Lumentum (NASDAQ:LITE) Stock Price Up 3.4% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE)’s stock price traded up 3.4% on Wednesday. The stock traded as high as $878.90 and last traded at $850.70. 3,703,778 shares changed hands during trading, a decline of 32% from the average session volume of 5,473,924 shares. The stock had previously closed at $822.51.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Zacks Research downgraded shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings lowered shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 price objective on shares of Lumentum in a research report on Wednesday, August 12th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $1,036.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,080.83.

Lumentum Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The company has a market capitalization of $77.06 billion, a P/E ratio of -10.35 and a beta of 1.53. The firm’s 50-day moving average is $931.93 and its 200-day moving average is $878.96.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%. The firm’s revenue was up 109.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts predict that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $827.82, for a total value of $1,241,730.00. Following the completion of the transaction, the insider owned 100,434 shares of the company’s stock, valued at $83,141,273.88. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jae Kim sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the transaction, the senior vice president directly owned 37,804 shares in the company, valued at approximately $32,230,934.32. This represents a 24.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 94,496 shares of company stock valued at $85,978,498. Insiders own 0.28% of the company’s stock.

Institutional Trading of Lumentum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its holdings in shares of Lumentum by 14.3% in the third quarter. Crossmark Global Holdings Inc. now owns 3,661 shares of the technology company’s stock worth $3,556,000 after purchasing an additional 459 shares during the last quarter. Range Financial Group LLC lifted its position in shares of Lumentum by 5.8% in the third quarter. Range Financial Group LLC now owns 4,438 shares of the technology company’s stock worth $4,310,000 after buying an additional 245 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Lumentum by 240.0% in the third quarter. Physician Wealth Advisors Inc. now owns 85 shares of the technology company’s stock worth $83,000 after buying an additional 60 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Lumentum by 4.7% during the third quarter. Pinnacle Associates Ltd. now owns 54,132 shares of the technology company’s stock valued at $52,576,000 after buying an additional 2,440 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Lumentum by 6.8% during the third quarter. Nisa Investment Advisors LLC now owns 7,494 shares of the technology company’s stock valued at $7,279,000 after buying an additional 479 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Lumentum Company Profile

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.